Aramco's Gas Division Plans Spark Listing Hopes

Saudi Aramco is reorganizing its business to create a standalone gas division, which could unlock new investment and potentially lead to a listing of the unit.

The oil giant has hired Evercore to advise on this restructuring effort, known as Project Gamma, which aims to separate its gas operations from the rest of the company.

Boston Consulting Group also advised Aramco on the plan, citing potential benefits of creating a focused platform for developing natural gas resources domestically and building a liquefied natural gas portfolio abroad.